Landlords may buy now as renters struggle to buy

There is no secret of the fact that the last few years have been largely successful for British landlord insurance customers, who have seen the price that they can charge for rent rise time and again.

However, for those who are thinking about potentially expanding their portfolios at the present time, it may just be the right moment to do so, with a new report suggesting that a generation of Brits may never be able to buy their own property.

According to the findings from Shelter, there are many people who will face a choice between having children and being able to save up for the sizeable deposit that they will need to make a purchase.

The organisation found that the average down payment on a home now sits at more than £16,000, and it said that childless couples will need to save for a full six years to be able to afford this, a time that doubles for those who have kids.

And for single people, the position is even worse, with Shelter suggesting that they could take as long as 14 years to accumulate enough to get them a mortgage, or 30 years in London. It had previously been thought that the government's Funding for Lending Scheme (FLS) had made it easier for people to get cheap mortgages, but Shelter suggests this is not the case.

Campbell Robb, Shelter chief executive, said: "This research reveals the harsh reality that young people today are facing because of our shortage of affordable homes. These shocking results show that when it comes to saving up for a home of your own, things today just aren’t what they used to be.

"It’s right that people work hard and save up if they want to own a home, but the government has to start meeting people halfway. Unless we see radical action to tackle our chronic shortage of affordable homes, the next generation of young people will find it even harder to find a place to call their own."

It is something that landlords can look to take advantage of though, by buying homes in areas of high demand that suit the likes of families, they might just see a good return on their investment.